Global Power Over Ethernet Solutions Market to Reach $1 Billion by 2024
SAN FRANCISCO, Aug. 13, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Power Over Ethernet Solutions - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: May 2021
Executive Pool: 1536
Companies: 67 - Players covered include Advantech B+B SmartWorx Inc.; Analog Devices Inc.; Belden Incorporated; Broadcom Inc.; Cisco Systems, Inc.; CommScope Holding Company Inc.; Dell Technologies Inc.; MICROSENS GMBH & CO. KG; Hewlett Packard Enterprise Company; Huawei Technologies Co., Ltd.; Kinetic Technologies; Maxim Integrated Products Inc.; Microsemi Corporation; Monolithic Power Systems Inc.; NETGEAR Inc.; ON Semiconductor Corp.; Silicon Laboratories Inc.; STMicroelectronics N.V.; Texas Instruments Inc. and Others.
Coverage: All major geographies and key segments
Segments: Type (Powered Device Controllers & ICs, Power Sourcing Equipment Controllers & ICs); Application (Connectivity, Security & Access Control, Infotainment, LED Lighting & Control, Other Applications); Vertical (Commercial, Residential, Industrial)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
ABSTRACT-
Global Power Over Ethernet Solutions Market to Reach $1 Billion by 2024
Power over Ethernet (PoE) solutions refers to a collection of components, devices, technology and standards that are used for supplying power to network-based systems. Traditionally, companies installed separate cable networks for transmission of data and power, which added to operational expenditure and entailed significant maintenance. PoE solutions technology is designed to offer power as well as data to devices within a network, thus eliminating the need for using power cables and power supplies. The elimination of additional power infrastructure ensures that the wiring arrangement is simple and convenient for use in home, office as well as industrial settings. The lack of additional power supplies also results in less congestion of networks, thus ensuring that circuit connections are simple and require less space. PoE system helps in centralization of power to a single location and also offering high speed data connectivity, thus enabling a wide variety of wireless equipment to be connected in business settings. The installation or setup and removal of such networks is also relatively easy. It is due to the simple and convenient nature of networks that a growing number of devices such as IP cameras and VoIP phones are increasingly using PoE technology. Additionally, a growing number of devices such as displays, sensors and detectors are also being made with compatibility to PoE technology, thus promising growth for PoE solutions market.
Amid the COVID-19 crisis, the global market for Power Over Ethernet Solutions is projected to reach US$1 Billion by 2024, registering a compounded annual growth rate (CAGR) of 10.8% over the analysis period. The United States represents the largest regional market for Power Over Ethernet Solutions, accounting for an estimated 43.3% share of the global total. The market is projected to reach US$517.4 Million by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 13.9% over the analysis period.
The growing demand for devices compatible with PoE technology and the considerable cost benefits of the technology are fueling growth in the PoE solutions market. The flexible and efficient network design of PoE technology and the economical nature of installation are fueling growth in PoE solutions market. The use of PoE solutions is aimed at improving reliability of energy sources, enabling enterprises to cut overall costs. The relative ease of installation and operations of PoE solutions and the advantage of better performance of networks owing to higher reliability are fueling market growth. The growing demand for a range of wireless networking systems and VoIP communication systems and the rising deployment of smart lighting solutions integrated with PoE networks are also propelling growth prospects. Factors fueling growth in PoE solutions market include the steadily rising demand for cost effective wireless network infrastructure, widespread proliferation of wireless devices, government support for development of smart cities and the rapid transition towards cloud-based networking technologies. With enterprises increasingly seeking economical network solutions to manage assets such as access control systems and security devices, demand for PoE solutions poised to grow. The market is expected to benefit from the growing adoption of VoIP solutions, smart office buildings, IP cameras and access control systems. The adoption of PoE solutions will be fueled by technology and digital advancements that are currently transforming security operations. Also supporting market growth is the development of new standards that offer support for new networks equipment. Further, regulatory bodies are also focusing efforts on driving changes to existing standards and protocols, which will ensure faster adoption of PoE solutions in various applications.
The PoE solutions market is expected to benefit from the rising usage of VoIP phones. In particular, enterprises are increasingly deploying VoIP phones as businesses look to improve communications and collaborate more effectively with remote users and employees, and hence improve business productivity. The significant advantages of converged voice and data services is enabling companies to improve communication and enhance business performance. With converged unified communication services as well as enterprise VoIP enabling live chats, video conferencing and other communication capabilities, the VoIP market is expected to witness strong growth and will lead to higher demand for PoE solutions.
A notable trend fueling growth in the PoE solutions market is the rapid proliferation of Internet of Things (IoT), with enterprises increasingly adopting IoT devices and solutions to support the rapid pace of advancements being witnessed in business infrastructure. A large number of enterprises use IoT solutions for ensuring security of physical assets, while the use of IoT in daily enterprise activities is also gathering pace. PoE solutions are offering support for various IoT initiatives including smart cities, smart grids and smart constructions. Driven by the growing deployment of IoT solutions in enterprise settings, the demand for PoE solutions continues to grow given the ability of PoE to power network ecosystems in a digitized world. Enterprises are also focusing efforts on infrastructure security aspects in order to ensure protection of highly sensitive data. The growing use of security and access control systems in office settings involving high level of investments is expected to fuel growth in the PoE solutions. More
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